Chase is doing it again.
They are increasing a current sign up bonus.
Previously, the Chase Ink Bold Charge Card offered a 25,000 Ultimate Reward sign up bonus. Effective today, 9/22/11, that sign up bonus has jumped to 50,000. 11/14/12 the card now only has a $5,000 minimum spend to get the full 50,000 points. In fact, the sign up offer now exceeds the sign up bonus for the Chase Sapphire Preferred card. That means someone with a small business could get 900,000 Ultimate Reward points between a single personal application and a single business application (with required spending).
Remember, if you are an individual, you can get a business credit card as a sole proprietor.
Chase Ink Bold Charge Card 50,000 Ultimate Rewards Offer Details
- Sign up and be approved.
- Use the the Ink Bold to spend $5,000 in the first three months (90 days) and get 50,000 points
Ink Bold Charge Card Bonus Earning
- Earn 5X points per $1 on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services
- Earn 2X points per $1 on the first $50,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel.
- Earn 1X point per $1 on all other purchases, with no limits on how much you can earn- redeem your points for what you want through Ultimate Rewards
The icing on the cake is that the $95 annual fee is waived for the first year!
One nice benefit about this piece of plastic is a complementary The Lounge Club membership for the first year. This gives you access to different airport lounges around with world. After the first year, you’ll only get two complementary visits each year.
Remember that the Ultimate Rewards points do have some flexibility. You can read a full list of what you can do with Ultimate Rewards, but here is a highlight of some of the major benefits:
- You can use Ultimate Rewards at a penny per point ratio to get gift cards. Thus, the 50,000 points would get you $500 in gift cards.
- You can use the points to book travel through the Ultimate Rewards site. Thus, the 50,000 points would get you $600 worth of travel (20% point bonus when booking travel through the site).
- You can use them to transfer into a few hotel and airline accounts. Thus, the 50,000 points would give you 50,000 Continental miles, which can also be transferred to United.
Should you pull the trigger?
This offer is just another reminder that Chase is trying to position itself as one of the leading air miles rewards credit companies in the travel industry (taking the challenge to American Express). This battle means that there are, and will continue to be, great sign up offers. However, we must remember that with Chase getting a new approval every six months is a reasonable goal (though there are reports of some getting cards closer together). You can also get your first and second approval more like a month apart.
For more information, you can see my Chase appeasement strategy.
Plan your Chase applications wisely!
Personally, I’ve yet to sign up for the Sapphire Preferred yet. Since that card has a similar sign up bonus (40,000 Ultimate Reward points), but a smaller required spend of $3,000, I think I’ll go with that card first. However, you need to evaluate your plan and decide if this is the right time for another Chase card application.